customer markets usually employ some combination of the functional, geographic, product, and market organization forms. Marketing control: Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. Operating control: involves checking ongoing performance against the annual plan and taking corrective action when necessary. Strategic control: involves looking at whether the company’s basic strategies are well matched to its opportunities. Return on marketing investment (or marketing ROI): The net return from a marketing investment divided by the costs of the marketing investment. Regardless of how it’s defined or measured, the marketing ROI concept is here to stay. “In good times and bad, whether or not marketers are ready for it, they’re going to be asked to justify their spending with financial data,” A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share. Many companies are assembling such measures into marketing dashboards—meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.
Lesson 3: Chapter 4 - Social Responsibility and Ethics: Sustainable Marketing Sustainable marketing: Socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs. The marketing concept: recognizes that organizations thrive from day to day by determining the current needs and wants of target group customers and fulfilling those needs and wants more effectively and efficiently than competitors do The societal marketing concept considers the future welfare of consumers and the strategic planning concept considers future company needs , the sustainable marketing concept considers both . Sustainable marketing calls for socially and environmentally responsible actions that meet both the immediate and the future needs of customers and the company. SOCIAL CRITICISMS OF MARKETING: o High Prices: Many critics claim that the marketing system causes prices to be higher than they would be under more “sensible” systems. Such high prices are hard to swallow, especially when the economy takes a downturn. Critics point to three factors—high costs of distribution, high advertising and promotion costs, and excessive markups. o Deceptive Practices: Fall into three groups: pricing, promotion, and packaging. Deceptive pricing includes practices such as falsely advertising “factory” or “wholesale” prices or a large price reduction from a phony high retail list price. Deceptive promotion includes practices such as misrepresenting the product’s features or performance or luring customers to the store for a
bargain that is out of stock. Deceptive packaging includes exaggerating package contents
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